BEIJING, May 8, 2017 /PRNewswire/ -- The Oosten project in Brooklyn, developed by XIN Development Group International, Inc., the U.S. development arm of Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, was named one of the "Top 10 Best-Selling NYC Buildings in Q1 2017" by PropertyShark.
The Oosten, in the Williamsburg section of Brooklyn, was ranked 5th among the top 10 by PropertyShark, with 37 units sold in the first quarter of 2017 (as disclosed by PropertyShark). The strong showing reinforces Oosten's notable performance in 2016, when it closed sales of another 100 units, PropertyShark said. PropertyShark is a leading property research tool for real estate professionals, investors and homebuyers in New York, and other major US markets. The ranking of top 10 best-selling NYC buildings was based on all sales closed between January 1st and March 31st 2017.
Xinyuan acquired the land for the Oosten at the end of 2012, and has since transformed an entire city block of raw land parcel into a state-of-the-art, modern land mark.
"We are pleased with the performance of the Oosten project, which is our first residential real estate development in New York City," said CFO Helen Zhang. "With the success of the Oosten, we are expanding our investment in the residential market in New York City with the Hudson Garden project in Midtown Manhattan and the landmark RKO KEITH'S Theater project in Queens."
The Oosten, located at Kent Avenue and South 8th Street in Williamsburg, has good views of downtown Manhattan and is a short distance from the Wall Street financial district. Williamsburg is one of the most culturally exciting neighborhoods in all of New York. The waterfront district, where Oosten is situated, is just one subway stop from Manhattan, seconds from the East River Ferry and right at the base of the Williamsburg Bridge. Abundant bike lanes nearby allow bikers to travel into Lower Manhattan and neighboring areas.
The building has 216 units with seven different unit typologies (townhomes, duplex homes, 1-, 2-, & 3-bedrooms, lofts, and duplex penthouses). Approximately 80% of the Oosten's total units had been pre-sold as of Dec. 31, 2016.
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China and in other countries. In China, the Company develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Zhengzhou, Jinan, Xi'an, Suzhou, among others. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. The Company aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements". These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements includes statements about intended use of proceeds and can generally be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical statements are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including, but not limited to, our ability to continue to implement our business model successfully; our ability to secure adequate financing for our project development; our ability to successfully sell or complete our property projects under construction and planning; our ability to enter into new geographic markets or business lines and expand our operations; the marketing and sales ability of our third-party sales agents; the performance of our third-party contractors; the impact of laws, regulations and policies relating to real estate developers and the real estate industry in the countries in which we operate; our ability to obtain permits and licenses to carry on our business in compliance with applicable laws and regulations; competition from other real estate developers; the growth of the real estate industry in the markets in which we operate; fluctuations in general economic and business conditions in the markets in which we operate; and other risks outlined in our public filings with the Securities and Exchange Commission, including our annual report on Form 20-F for the year ended December 31, 2016. Except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statement is made.
For more information, please contact:
Xinyuan Real Estate Co., Ltd.
Mr. Joe Xu
Investor Relations Deputy Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
ICR, LLC
Investors:
William Zima
In U.S.: +1-646-308-1472
In China: +86 (10) 6583 7511
Email: William.zima@icrinc.com
Media:
Edmond Lococo
In China: +86 (10) 6583-7510
Email: Edmond.Lococo@icrinc.com
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